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Thermal Scanners Market Analysis- By Type (Handheld and Fixed), By Wavelength and End Use-Global Forecast (2023-2031)

  • PUBLISHED ON
  • 2023-09-13
  • NO OF PAGES
  • 300
  • CATEGORY
  • Electronics & Communication

Market Overview:

Thermal Scanners Market was valued at USD 3.76 billion in 2022 and expected to grow at a CAGR of 5.4% during the forecast period. Thermal scanners, also known as infrared thermographic cameras or thermal imaging cameras, are devices that capture and visualize the infrared radiation emitted by objects and convert it into temperature data or thermal images. They have a wide range of applications across various industries and have gained significant attention, especially during public health crises like the COVID-19 pandemic.


Here's an overview of thermal scanners:

How Thermal Scanners Work:

Thermal scanners work based on the principle that all objects emit infrared radiation (heat) in proportion to their temperature.

The device uses a special sensor called a microbolometer or infrared detector to detect this radiation.

The sensor generates an image or temperature map by assigning different colors or grayscale tones to different temperature levels.

The resulting thermal image allows users to identify variations in temperature across an object or a scene.

Report Scope

Report Attributes

Description

Market Size in 2022

USD 3.76 billion

Market Forecast in 2031

USD 5.45 billion

CAGR % 2023-2031

5.4%

Base Year

2022

Historic Data

2019-2021

Forecast Period

2023-2031

Report USP

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

Type, Wavelength, End-Use, & Region

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Key Companies

FLIR Systems, Inc.; Fluke Corporation, L3Harris Technologies, Inc.; and Opgal Optronic Industries Ltd., 3M (3m Scotts), Others

 

Applications:

Temperature Screening: One of the most prominent uses of thermal scanners is in temperature screening at entrances to buildings, airports, and other public spaces. These devices can quickly detect individuals with elevated body temperatures, which may indicate fever and the potential presence of an illness, such as an infection.

Industrial Inspections: Thermal scanners are used extensively in industries like manufacturing, construction, and electrical maintenance for detecting hotspots, equipment malfunctions, and other anomalies that may indicate a problem.

Building Inspections: In construction and building maintenance, thermal scanners can identify issues such as insulation gaps, water leaks, and structural defects.

Security and Surveillance: Some security systems use thermal imaging to detect intruders or monitor large areas during the night or low-light conditions.

Medical Diagnostics: In the medical field, thermal imaging is used for various applications, including breast cancer detection, vascular imaging, and identifying areas of inflammation.

Firefighting: Firefighters use thermal scanners to locate victims and identify the hottest areas within a burning structure, enhancing their safety and rescue efforts.

Wildlife Observation: Researchers and conservationists use thermal imaging to study animal behavior, especially in nocturnal species.

Types of Thermal Scanners:

Handheld Thermal Scanners: These are portable devices that are easy to carry and use for quick temperature checks or inspections.

Fixed-Mount Thermal Scanners: These are installed at specific locations, such as building entrances or manufacturing lines, for continuous monitoring.

Pan-and-Tilt Scanners: Often used in surveillance and security, these scanners can pan and tilt to cover a wide area.

Cooled vs. Uncooled Scanners: Infrared detectors can be either cooled (usually used in high-end applications) or uncooled (more common and affordable).

Rapid temperature measurement: Thermal scanners can measure temperatures quickly, making them suitable for screening large numbers of people in high-traffic areas.

Non-contact: They allow for non-contact temperature measurement, reducing the risk of cross-contamination during health screenings.

Detects hidden issues: In industrial and building applications, thermal scanners can identify hidden problems that are not visible to the naked eye.

Accuracy: The accuracy of thermal scanners can be influenced by environmental factors, such as ambient temperature, humidity, and the distance from the object being measured.

False positives: Elevated skin temperature does not always indicate illness, so thermal scanners can produce false-positive results.

Cost: High-quality thermal imaging cameras can be expensive, although prices have been decreasing in recent years.

Privacy concerns: Using thermal scanners for surveillance purposes can raise privacy concerns, especially when used in public spaces.

Thermal scanners have become increasingly important tools in various industries, with their use expanding beyond traditional applications. They offer a non-invasive and efficient way to identify temperature anomalies and detect issues that might otherwise go unnoticed. However, their effectiveness depends on proper calibration, environmental conditions, and the specific use case.

Covid-19 Impact:

The COVID-19 pandemic has had a significant impact on the thermal scanner market, leading to both short-term and long-term changes in demand, applications, and market dynamics. Here's an overview of the impact of COVID-19 on the thermal scanner market:

Immediate Surge in Demand (Early 2020): In the early stages of the pandemic, there was a sudden surge in demand for thermal scanners, particularly for use in temperature screening at public spaces, airports, hospitals, and businesses.

Governments and organizations worldwide deployed thermal scanners as a means to identify individuals with elevated body temperatures, which can be a potential symptom of COVID-19.

Widespread Adoption in Public Spaces: Thermal scanners became a common sight at entrances to buildings, transportation hubs, and other public spaces as a part of COVID-19 prevention measures.

Many businesses and institutions made temperature screening a mandatory requirement for entry, contributing to the rapid adoption of thermal scanners.

Growth in Healthcare Applications: In healthcare settings, thermal scanners were used to monitor the temperature of patients, visitors, and healthcare workers, helping to identify potential COVID-19 cases.

These devices were also employed in triage areas and emergency rooms to quickly identify individuals with fever.

Short-Term Market Expansion: The heightened demand for thermal scanners led to a short-term expansion of the market, with increased sales and production.

Some manufacturers pivoted to produce thermal scanners to meet the demand, and new market players entered the industry.

Technological Advancements: In response to the pandemic, manufacturers invested in improving the accuracy and efficiency of thermal scanners, resulting in the development of more sophisticated models.

Some innovations included integrated facial recognition, mask detection, and contactless temperature measurement.

Integration with Access Control Systems: Thermal scanners were often integrated with access control systems, allowing for automated temperature screening and entry management.

This integration enhanced the efficiency of temperature screening processes.

Continued Demand in Specific Sectors: Although the initial surge in demand was driven by the pandemic, certain sectors continued to rely on thermal scanners for security, safety, and monitoring purposes.

Industries like manufacturing, healthcare, and construction maintained their use of thermal scanners for equipment inspection and anomaly detection.

Long-Term Use in Public Health: While the immediate need for mass temperature screening waned as vaccination efforts progressed, thermal scanners remained a tool in public health measures to monitor and respond to potential outbreaks.

Post-Pandemic Challenges: As the pandemic situation improved in some regions, the demand for thermal scanners for COVID-19-related applications declined, and the market faced challenges in finding new applications to sustain growth.

Privacy and Ethical Concerns: The widespread use of thermal scanners raised concerns about privacy and data protection, especially when integrated with facial recognition technology.

In summary, the COVID-19 pandemic had a significant impact on the thermal scanner market, driving a surge in demand and technological advancements. While the initial demand for temperature screening has diminished in some regions as the pandemic has evolved, thermal scanners continue to be used for various applications, and their long-term market prospects may depend on their ability to adapt to new use cases beyond COVID-19 mitigation.

Market Dynamics:

Drivers:

Public Health Concerns (COVID-19 and Beyond): The global COVID-19 pandemic significantly accelerated the adoption of thermal scanners for temperature screening at entrances to public spaces, offices, airports, healthcare facilities, and manufacturing plants. Even as the pandemic subsides, the awareness of health and safety remains, sustaining the demand for thermal screening solutions.

Contactless Screening: Thermal scanners offer a non-contact method of temperature measurement, reducing the risk of cross-contamination and the spread of contagious diseases. This contactless aspect has become a crucial feature in healthcare, transportation, and public venues.

Increased Focus on Health and Safety: The growing emphasis on health and safety, both in response to the pandemic and as a general practice, has driven organizations to invest in thermal scanners as part of their safety protocols.

Rising Security Concerns: Security concerns, including those related to terrorism and public safety, have led to increased adoption of thermal scanners in airports, government buildings, stadiums, and other high-security areas.

Technological Advancements: Continuous innovation has improved the accuracy, efficiency, and affordability of thermal scanner technology. Advanced features like facial recognition, mask detection, and integration with access control systems have expanded the capabilities of thermal scanners.

Regulatory Compliance: Various industries, including aviation, healthcare, and manufacturing, have regulations and standards that mandate temperature screening and monitoring. Compliance with these regulations has driven the adoption of thermal scanners.

Industrial Applications: Thermal scanners are widely used in industrial settings for preventive maintenance, equipment inspection, and monitoring. They help identify hotspots, defects, and inefficiencies, leading to cost savings and increased productivity.

Energy Efficiency: The use of thermal scanners in building inspections and energy audits has gained popularity. Identifying areas of poor insulation or equipment malfunction can lead to energy savings and reduced environmental impact.

Infrastructure Development: Investments in infrastructure, particularly in emerging economies, have driven demand for thermal scanners in construction and building inspections. These devices are used to ensure the structural integrity and safety of buildings and infrastructure projects.

Healthcare Applications: In addition to temperature screening, thermal scanners are used in healthcare for various diagnostic and monitoring purposes, including identifying inflammation, vascular conditions, and breast cancer.

Environmental Monitoring: Thermal scanners are used in environmental and ecological research to study wildlife, track animal movements, and monitor ecosystems. They help scientists gather data on wildlife behavior and habitat health.

Reduced Costs: Over time, the cost of thermal scanners has decreased, making them more accessible to a broader range of industries and applications.

Awareness and Education: Greater awareness of the capabilities and benefits of thermal scanners has contributed to their adoption across sectors. Education about their use and advantages continues to drive market growth.

Restraints:

Cost: High-quality thermal scanners with advanced features can be expensive, making them less accessible for budget-conscious organizations and individuals. The cost of entry can be a significant barrier, particularly for smaller businesses and institutions.

Accuracy and Consistency: The accuracy and reliability of thermal scanners can be influenced by various factors, including environmental conditions (e.g., ambient temperature and humidity) and the quality of the equipment. Inaccurate readings can lead to false alarms or missed detections.

False Positives: Thermal scanners may produce false-positive results, indicating elevated temperatures when there is no actual health concern. Factors such as physical activity, environmental conditions, and medical conditions (e.g., hot flashes) can contribute to false positives, leading to unnecessary follow-up actions.

Privacy Concerns: The use of thermal scanners, especially those integrated with facial recognition technology, can raise privacy concerns. Individuals may feel uncomfortable with their thermal images being captured and potentially linked to their identity.

Data Handling and Storage: Thermal imaging generates data that needs to be managed, stored, and protected, especially when used in healthcare settings. Ensuring data security and compliance with privacy regulations can be challenging.

Regulatory Challenges: Compliance with regional and industry-specific regulations can be complex. Organizations need to navigate regulatory requirements related to health screening, data privacy, and security.

Environmental Factors: Extreme environmental conditions, such as rain, fog, or snow, can affect the performance of thermal scanners, potentially reducing their accuracy and efficiency.

Training and Expertise: Effective operation and interpretation of thermal scanners require training and expertise. Users need to understand how to use the technology correctly, interpret thermal images, and respond appropriately to readings.

Integration Challenges: Integrating thermal scanners with existing infrastructure and systems, such as access control, can be complex and may require additional investment in hardware and software.

Long-Term Market Sustainability: The initial surge in demand for thermal scanners during the COVID-19 pandemic has led to questions about the long-term sustainability of the market. As the pandemic subsides, organizations may reevaluate their continued need for these devices.

Competition and Market Saturation: The thermal scanner market has seen increased competition as more manufacturers enter the space. Market saturation in certain sectors can lead to price pressures and reduced profit margins.

Technological Limitations: While technology has advanced, there are still limitations in thermal imaging, such as the inability to detect certain medical conditions or measure core body temperature accurately.

Public Perception and Acceptance: Public perception of thermal scanners can vary, with some individuals expressing skepticism or resistance to temperature screening measures. Ensuring public acceptance and cooperation is crucial for their effective use.

Regional Analysis:

North America:

United States and Canada: North America is a significant market for thermal scanners, driven by applications in healthcare, industrial inspections, security, and public health. The COVID-19 pandemic led to widespread adoption of thermal scanners for temperature screening in various settings.

Europe:

Western Europe: Countries like the UK, Germany, France, and Spain have a mature market for thermal scanners, with applications in healthcare, industrial sectors, and security. Compliance with strict privacy regulations and standards is essential in this region.

Eastern Europe: Emerging economies in Eastern Europe are witnessing increased adoption of thermal scanners, especially in manufacturing and construction for maintenance and safety inspections.

Asia-Pacific:

China: China represents a significant market, driven by industrial applications, security, and a growing focus on healthcare. The government's initiatives and investments in technology have boosted the adoption of thermal scanners.

India: The adoption of thermal scanners in India is growing, especially in healthcare and manufacturing, with an emphasis on non-contact temperature screening.

Southeast Asia: Countries like Singapore, Malaysia, and Indonesia have seen increased use of thermal scanners for public health and security purposes. The need for infrastructure development is also driving demand.

Latin America:

Brazil and Mexico: These countries have a growing market for thermal scanners, driven by applications in healthcare, manufacturing, and public spaces. Economic factors can influence adoption rates.

Middle East and Africa (MEA):

Gulf Cooperation Council (GCC) Countries: The GCC countries, including the UAE, Saudi Arabia, and Qatar, are prominent users of thermal scanners for security and healthcare applications.

South Africa: The use of thermal scanners is increasing in South Africa, primarily for industrial inspections, healthcare, and security.

Emerging Markets:

Emerging markets in Southeast Asia, Africa, and South America offer significant growth potential for thermal scanner adoption as technological infrastructure improves and industries expand.

Healthcare and Public Health: Healthcare and public health-related applications have seen substantial growth across regions, particularly in the context of the COVID-19 pandemic, with the use of thermal scanners for temperature screening.

Industrial Applications: The adoption of thermal scanners in industrial settings, including manufacturing, construction, and energy, is driven by the need for preventive maintenance, equipment inspections, and safety measures.

Security and Surveillance: Thermal scanners are used for security and surveillance purposes in regions with high-security concerns, such as airports, government buildings, and critical infrastructure.

Regulatory Environment: Different regions have varying regulations and standards governing the use of thermal scanners, especially in healthcare and privacy-related applications. Compliance with these regulations is a key consideration for manufacturers and users.

Economic Conditions: Economic factors, including GDP growth, investment in infrastructure, and overall business activity, can influence the adoption rate of thermal scanners in different regions.

Technological Infrastructure: Regions with well-established technological infrastructure are better positioned to integrate thermal scanners into various applications and industries.

In summary, the adoption and growth of the thermal scanner market vary by region, with applications spanning healthcare, industrial sectors, security, and public health. The regulatory environment, economic conditions, and technological infrastructure play crucial roles in shaping regional market dynamics. As the technology continues to advance and new applications emerge, the thermal scanner market is expected to evolve differently in each region.

Competitive Landscape:

The global Thermal Scanners market is highly competitive and fragmented with the presence of several players. These companies are constantly focusing on new product development, partnerships, collaborations, and mergers and acquisitions to maintain their market position and expand their geographical presence.

Some of the key players operating in the market are:

·         3M (3M Scott)

·         AMETEK Land

·         Electro Optical Industries

·         FLIR Systems, Inc.

·         Fluke Corporation

·         Infrared Cameras Inc.

·         L3Harris Technologies, Inc.

·         Leonardo S.p.A.

·         Opgal Optronic Industries Ltd.

·         Optotherm, Inc.

·         Seek Thermal Inc.

·         Thermoteknix Systems Ltd.

·         Tonbo Imaging

·         Others

Segments

By Type

·         Handheld

·         Fixed

By Wavelength

·         Short-Wave Infrared (SWIR)

·         Mid-Wave Infrared (MWIR)

·         Long-Wave Infrared (LWIR)

By End-use

·         Industrial

·         Healthcare

·         Aerospace & Defense

·         Automotive

·         Oil & Gas

·         Commercial

·         Others

By Geography

·         North America

o   U.S.

o   Canada

o   Mexico

·         Europe

o   U.K.

o   Germany

o   France

o   Italy

o   Spain

o   Russia

·         Asia-Pacific

o   Japan

o   China

o   India

o   Australia

o   South Korea

o   ASEAN

o   Rest of APAC

·         South America

o   Brazil

o   Argentina

o   Colombia

o   Rest of South America

·         MEA

o   South Africa

o   Saudi Arabia

o   UAE

o   Egypt

o   Rest of MEA

1.     Global Thermal Scanners Market Introduction and Market Overview

1.1. Objectives of the Study

1.2. Thermal Scanners Market Definition & Description

1.3. Global Thermal Scanners Market Scope and Market Estimation

1.3.1.   Global Thermal Scanners Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2032)

1.3.2.   Global Thermal Scanners Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2032

1.4. Market Segmentation

1.4.1.   Type of Global Thermal Scanners Market

1.4.2.   Wavelength of Global Thermal Scanners Market

1.4.3.   End-use of Global Thermal Scanners Market

1.4.4.   Region of Global Thermal Scanners Market

2.     Executive Summary

2.1. Global Thermal Scanners Market Industry Trends under COVID-19 Outbreak

2.1.1.   Global COVID-19 Status Overview

2.1.2.   Influence of COVID-19 Outbreak on Global Thermal Scanners Market Industry Development

2.2. Market Dynamics

2.2.1.   Drivers

2.2.2.   Limitations

2.2.3.   Opportunities

2.2.4.   Impact Analysis of Drivers and Restraints

2.3. Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4. Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5. Porter’s Five Forces Analysis

2.5.1.   Bargaining Power of Suppliers

2.5.2.   Bargaining Power of Buyers

2.5.3.   Threat of Substitutes

2.5.4.   Threat of New Entrants

2.5.5.   Competitive Rivalry

2.6. Value Chain / Ecosystem Analysis

2.7. PEST Analysis

2.8. Russia-Ukraine War Impacts Analysis

2.9. Economic Downturn Analysis

2.10.                 Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

3.     Global Thermal Scanners Market Estimates & Historical Trend Analysis (2020 - 2022)

4.     Global Thermal Scanners Market Estimates & Forecast Trend Analysis, by Type

4.1. Global Thermal Scanners Market Revenue (US$ Mn) Estimates and Forecasts, by Type, 2022 to 2033

4.1.1.   Handheld

4.1.2.   Fixed

5.     Global Thermal Scanners Market Estimates & Forecast Trend Analysis, by Wavelength

5.1. Global Thermal Scanners Market Revenue (US$ Mn) Estimates and Forecasts, by Wavelength, 2022 to 2033

5.1.1.   Short-Wave Infrared (SWIR)

5.1.2.   Mid-Wave Infrared (MWIR)

5.1.3.   Long-Wave Infrared (LWIR)

6.     Global Thermal Scanners Market Estimates & Forecast Trend Analysis, by End-use

6.1. Global Thermal Scanners Market Revenue (US$ Mn) Estimates and Forecasts, by End-use, 2022 to 2033

6.1.1.   Industrial

6.1.2.   Healthcare

6.1.3.   Aerospace & Defense

6.1.4.   Automotive

6.1.5.   Oil & Gas

6.1.6.   Commercial

6.1.7.   Others

7.     Global Thermal Scanners Market Estimates & Forecast Trend Analysis, by Region

7.1. Global Thermal Scanners Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2022 to 2033

7.1.1.   North America

7.1.2.   Europe

7.1.3.   Asia Pacific

7.1.4.   Middle East & Africa

7.1.5.   South America

8.     North America Thermal Scanners Market: Estimates & Forecast Trend Analysis

8.1. North America Thermal Scanners Market Assessments & Key Findings

8.1.1.   North America Thermal Scanners Market Introduction

8.1.2.   North America Thermal Scanners Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

8.1.2.1.  By Type

8.1.2.2.  By Wavelength

8.1.2.3.  By End-use

8.1.2.4.  By Country

8.1.2.4.1.             The U.S.

8.1.2.4.2.             Canada

8.1.2.4.3.             Mexico

9.     Europe Thermal Scanners Market: Estimates & Forecast Trend Analysis

9.1. Europe Thermal Scanners Market Assessments & Key Findings

9.1.1.   Europe Thermal Scanners Market Introduction

9.1.2.   Europe Thermal Scanners Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

9.1.2.1.  By Type

9.1.2.2.  By Wavelength

9.1.2.3.  By End-use

9.1.2.4.  By Country

9.1.2.4.1.             Germany

9.1.2.4.2.             U.K.

9.1.2.4.3.             France

9.1.2.4.4.             Italy

9.1.2.4.5.             Spain

9.1.2.4.6.             Russia

9.1.2.4.7.             Rest of Europe

10.           Asia Pacific Thermal Scanners Market: Estimates & Forecast Trend Analysis

10.1.                 Asia Pacific Market Assessments & Key Findings

10.1.1.                      Asia Pacific Thermal Scanners Market Introduction

10.1.2.                      Asia Pacific Thermal Scanners Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

10.1.2.1.   By Type

10.1.2.2.   By Wavelength

10.1.2.3.   By End-use

10.1.2.4.   By Country

10.1.2.4.1.        China

10.1.2.4.2.        Japan

10.1.2.4.3.        India

10.1.2.4.4.        Australia

10.1.2.4.5.        South Korea

10.1.2.4.6.        ASEAN

10.1.2.4.7.        Rest of Asia Pacific

11.           Middle East & Africa Thermal Scanners Market: Estimates & Forecast Trend Analysis

11.1.                 Middle East & Africa Market Assessments & Key Findings

11.1.1.           Middle East & Africa Thermal Scanners Market Introduction

11.1.2.           Middle East & Africa Thermal Scanners Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

11.1.2.1.   By Type

11.1.2.2.   By Wavelength

11.1.2.3.   By End-use

11.1.2.4.   By Country

11.1.2.4.1.           U.A.E.

11.1.2.4.2.           Saudi Arabia

11.1.2.4.3.           Egypt

11.1.2.4.4.           South Africa

11.1.2.4.5.           Rest of Middle East & Africa

12.           South America Thermal Scanners Market: Estimates & Forecast Trend Analysis

12.1.                 South America Market Assessments & Key Findings

12.1.1.                      South America Thermal Scanners Market Introduction

12.1.2.                      South America Thermal Scanners Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

12.1.2.1.   By Type

12.1.2.2.   By Wavelength

12.1.2.3.   By End-use

12.1.2.4.   By Country

12.1.2.4.1.        Brazil

12.1.2.4.2.        Argentina

12.1.2.4.3.        Colombia

12.1.2.4.4.        Rest of South America

13.           Competition Landscape

13.1.                 Global Thermal Scanners Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

13.2.                 Global Thermal Scanners Market Concentration & Company Market Shares (%) Analysis, 2022

14.           Company Profiles

14.1.  3M (3M Scott)

14.1.1.                      Company Overview & Key Stats

14.1.2.                      Financial Performance & KPIs

14.1.3.                      Product Portfolio

14.1.4.                      Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

14.2.  AMETEK Land

14.3.  Electro Optical Industries

14.4.  FLIR Systems, Inc.

14.5.  Fluke Corporation

14.6.  Infrared Cameras Inc.

14.7.  L3Harris Technologies, Inc.

14.8.  Leonardo S.p.A.

14.9.  Opgal Optronic Industries Ltd.

14.10.            Optotherm, Inc.

14.11.            Seek Thermal Inc.

14.12.            Thermoteknix Systems Ltd.

14.13.            Tonbo Imaging

14.14.            Others**

15.           Research Methodology

15.1.                 External Transportations / Databases

15.2.                 Internal Proprietary Database

15.3.                 Primary Research

15.4.                 Secondary Research

15.5.                 Assumptions

15.6.                 Limitations

15.7.                 Report FAQs

16.           Research Findings & Conclusion

 

Quality Assurance Process

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We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Global Thermal  Scanners Market.jpg

Frequently Asked Questions

What is the market size and growth projections?

The global Thermal Scanners market was valued at USD 3.76 billion in 2022 and expected to grow at a CAGR of 5.4% during the forecast period

What are the trends shaping various markets?

Increased Focus on Health and Safety: The growing emphasis on health and safety, both in response to the pandemic and as a general practice, has driven organizations to invest in thermal scanners as part of their safety protocols

Who are the key competitors of market Players?

Some of the major players operating within the market are FLIR Systems, Inc.; Fluke Corporation, L3Harris Technologies, Inc.; and Opgal Optronic Industries Ltd., 3M (3m Scotts), Others

What are the top performing segments, and countries / regions of each of the markets?

Western Europe: Countries like the UK, Germany, France, and Spain have a mature market for thermal scanners, with applications in healthcare, industrial sectors, and security. Compliance with strict privacy regulations and standards is essential in this region.

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  • Unlimited User Access
  • 30% Additional Free Customization
  • Exclusive Previews to latest or upcoming reports
  • Discount of 30% on next purchase
  • 100% Service Guarantee until achievement of ROI